Markets open firm; global cues support

Markets opened the day on a firm note supported by positive global cues. The BSE Sensex was seen trading at 17,577, up 99.57 points, while the NSE Nifty was trading at 5347.05 points, up 29 points at 9.20 am IST. Kingfisher Airlines was up 2.33% despite fears of an impending pilot strike at the company.

Many analysts believe at the current value, the stock of Kingfisher Airlines may be a “vulture's” pick.

The shares of Modi Rubber spurted 20% on reports that the company will sell its 20.01% stake in MAN Diesel and Turbo India for Rs 36 crores.

Among the other shares that gained ground today were Jaiprakash Associates, Sterlite Industries, Sesa Goa and IDFC.

Shares that lost ground in early trading included Hero Motor Corp and Bharti Airtel.

GoodReturns.in